Office Depot owner loses over £50m ahead of quitting UK thanks to working from home trend October 2, 2024 OT Group, the owner of Office Depot and the Spicers wholesale brand, lost more than £50m in the year before it revealed plans to quit the UK. The Greater Manchester-headquartered group has posted a pre-tax loss of £52.5m for 2023, having also lost £15.8m in 2022. Newly-filed accounts with Companies House also reveal that turnover [...]
Libby’s Naked Diary – Libby takes her Naked Wines on the road. This week: Chillin’ in a hot tub October 2, 2024 Libby takes her Naked Wines on the road. This week: Chillin’ in a hot tub An outdoor hot tub is one of my favourite happy places. Let me sink my limbs into its warm, watery depths and I shall happily marinade there as the brilliant sunshine slides into sunset and the steam rises into the [...]
Electrical supplier AO World snaps up Musicmagpie in near-£10m deal October 2, 2024 London-listed online retailer Musicmagpie will be snapped up by AO World as the electrical supplier looks to enhance its presence in consumer tech.
Is Rachel Reeves planning a £24bn pension tax raid? October 1, 2024 It has been reported that the Treasury is considering what could amount to a £24bn pension tax raid as Rachel Reeves tries to plug her £22bn budget black hole. The Chancellor has reportedly been looking at tax relief on pension contributions, specifically, employers’ national insurance relief. There are two forms of national insurance. Employees, paid [...]
Tory leadership: Kemi Badenoch’s lead drops as Robert Jenrick closes in October 1, 2024 Kemi Badenoch’s poll lead amongst Tory members has dropped from 18 points to just four ahead of rival Robert Jenrick, a new survey has found. The YouGov poll with Sky News found that if Badenoch and Jenrick went head-to-head in the final round, members would choose her by 52 per cent versus his 48 per [...]
Eurozone inflation falls below target for the first time since mid-2021 October 1, 2024 Annual inflation fell to 1.8 per cent in September, down from 2.2 per cent in August and below the 1.9 per cent expected by economists.
How Nokia’s UK arm is bucking the trend of falling sales October 1, 2024 The UK arm of Nokia has bucked the trend set by its parent company by reporting a rise in both its sales and profit for its latest financial year. The division, which is based near Bristol, has reported a turnover of £448.9m for 2023, up from the £441.2m it posted for 2022. Newly-filed accounts with [...]
Parkdean Resorts suffers £100m slump as post-pandemic holiday competition heats up October 1, 2024 The return of short-haul travel following the Covid-19 pandemic contributed to holiday park operator Parkdean Resorts’ pre-tax loss widening by almost £100m during its latest financial year. The business, which is headquartered near Newcastle upon Tyne, has reported a loss of £135.2m for 2023, having previously posted a loss of £36.4m in 2022. The last [...]
Booths: ‘Waitrose of the North’ slashed loss thanks to record sales October 1, 2024 High-end supermarket chain Booths slashed its loss as sales passed £300m for the first time in its history. The Lancashire-headquartered company, which can trace its roots back to 1847, has reported a turnover of £318.6m for the year to 30 March, 2024, up from the £298.7m it achieved in the prior 12 months. Newly-filed accounts [...]
Nationwide completes Virgin Money takeover to create high street banking titan October 1, 2024 Nationwide has completed its £2.9bn takeover of Virgin Money in the UK's biggest banking merger since the financial crisis amid increasing consolidation among mid-sized lenders.